Earlier this month, we were fortunate to have a private presentation from Debra Taylor, President of LINK Listing Information Network, to review some of the latest data and statistics on Boston's housing market.
Some of the key takeaways:
The Boston market is stabilizing, not riding a bubble or coming off a cliff. This is due to a strong [...]
Cryptocurrency is a digital form of money. It differs from other currencies in that it is purely virtual (not printed on a bill or coin) and most are decentralized (not issued from a central bank). Transactions are secured by cryptography using a decentralized network of [...]
Spring is upon us! Hibernation is over and Boston & Cambridge restaurants are waking up from a lengthy period of deep sleep and take-out. This is great news for restaurateurs, diners, tourists and landlords [...]
Whether you are buying or selling, clear title is essential to the purchase or sale of real estate. “Dirty” or “bad” title can be fatal to a deal. Unlike the deed (a legal, physical document recorded in the Registry of Deeds), the title isn’t a piece of paper, but a concept that gives you ownership of the property. Without clear title, you generally cannot purchase, mortgage or sell it in the near future. Some common examples of title defects are improper title transfers, previously unknown heirs, state or local tax liens, estate complications, contractor/mechanic liens, boundary encroachments and liens from creditors, lenders and the IRS.
The GBREB's (Greater Boston Real Estate Board's) standard purchase and sale agreement form provides for what happens in a transaction if defective title is discovered. Clause 10 states the seller has 30 days to use reasonable efforts to clear the title. If the seller cannot deliver clear and marketable title within the 30 day period, the buyer may elect to withdraw from the contract without penalty.
Sellers benefit by searching the title prior to listing their property for sale to ensure there are no title defects or other title issues. Buyers protect themselves by having their attorney search the title as soon as the purchase and sale agreement is signed, and by purchasing title insurance.
One of the key services that real estate attorneys provide is verifying that the title is good and marketable, thereby providing peace of mind to both buyer and seller. And the bank.
DISCLAIMER: This is provided for informational purposes only and is not offered as legal advice. Please consult an attorney to discuss your specific questions regarding title and other legal matters.
In these uncertain times, a home security system can enhance safety and peace of mind for urban residents. Since COVID-19, many city-dwellers are working from home and have groceries and packages delivered. A personalized security system enables residents to check what’s taking place in and around their property through surveillance cameras [...]
“The whole culture is telling you to hurry, while the art tells you to take your time. Always listen to the art.”
- Junot Diaz
Art enhances the home.
In today’s modern world, an environment adorned with art provides a quiet respite from the busyness of everyday life. Additionally, artwork has a huge impact on our moods and emotions and [...]
In 1992, Shelagh Brennan of Cabot & Company and Paul Gleason of Fairfield Realty sold 4 unrenovated Back Bay buildings located at 47, 49, 51 & 53 Hereford Street for $1,020,000 (equal to $255,000 per building) to The Glynn Companies. The package included a parking area in the rear of the 4 buildings that accomodated 10 cars. That same year, [...]
Boston Home Prices Are Up • Number of Sales is Down • Inventory is Low
Curbed Boston reported transactions in the downtown Boston luxury condo market during the Summer months saw significant prices jumps and average sales prices were up nearly 23% year over year in the Spring. Downtown areas include Back Bay, Beacon Hill, South End, [...]
General & President “Ike” Eisenhower Slept Here
It was September 21, 1953, seven weeks after an armistice ended the Korean War. Operation Moolah was in effect. Operation Moolah was a United States Air Force (USAF) effort during the Korean War to obtain (through defection from any Russian, Chinese or North Korean pilot) a fully capable Soviet MiG-15 jet fighter to deliver to America. The US had attempted to obtain a MiG for years because it was considered to be the best fighter aircraft of the 1950’s and Korean War. The performance of the MiG-15 outclassed and amazed its’ Western opponents.
That morning, North Korean fighter pilot No Kum Sok seized his opportunity to escape a dead end future in North Korea and find asylum in America. He climbed into the cockpit of a MiG-15 and flew it to Kimpo, an American air base near Seoul in South Korea.That same morning president Eisenhower flew out of Washington, D.C. to Boston before the reports about the MiG and the North Korean defector reached the White House.
Eisenhower stayed at the Annex to the Algonquin Club at 223 Commonwealth Avenue, Back Bay, Boston and was called by the White House that day and given the news “We got the MiG.” Eisenhower dictated in a personal and confidential letter to his longtime advisor and confidante, Walter Bedell Smith, Undersecretary of State “I am sorry I was not in Washington today to discuss the MiG incident with the entire staff.” He was not sorry, however, that he was staying on America’s grandest avenue at 223 Commonwealth Avenue, Back Bay, Boston.